-0.22% dropped towards $1188 levels yesterday before reversing sharply back towards $1200 handle. The yellow metal is seen to be trading at $1194/95 levels at this point in writing and could be looking to push through higher levels going forward. A simplified wave count has been depicted on the hourly chart indicating the potential termination of Wave B at $1188 yesterday. If this counts holds true, we could see prices pushing forward above $1208 levels soon, taking off the initial resistance. On the other side, a drop
towards $1185 could be considered as yet an other opportunity to initiate longs. Overall, bullish
scenario stays as long as prices remain above $1160 levels.
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